#429 S-Corps And Paying Your Kids

On this weeks episode of the Main Street business podcast, Mark Kohler and Matt Sorenson discuss the topic of paying kids in S corporations and dispelling myths surrounding it. They emphasize the importance of having a legitimate job for the kids and paying them reasonable compensation. They suggest different strategies based on the age of the children. For kids who are 18 or older, they recommend issuing a 1099 form. For kids under 18, they propose setting up a family management company and paying them through that entity. They also highlight the tax benefits of such strategies and provide insights on how to navigate the process. Are you ready to get certified in EVERY strategy I teach? Start your journey with a FREE 15-minute demo. You don't want to miss this! Secure your tickets for the most significant tax & legal event of the year: Tax and Legal 360 Curious what my new certification is all about? Learn More Looking to connect with a rock star law firm? KKOS is only a click away! Grab my FREE Ultimate Tax Strategy Guide HERE! Check out our YOUTUBE Channel Here: https://www.youtube.com/markjkohler Craving more content? Check out my Instagram!